A little more than two years since it was launched in Riverside County, the Home Energy Renovation Opportunity (HERO) financing program is on the verge of an expansion that will take it into 70% of California’s cities.
“The past two years have confirmed that California cities are deriving great economic benefits from the HERO program,” said Dean Hollander, HERO spokesperson. “We’re excited to be expanding into more than 100 California communities in 2014.”
Homeowners who receive HERO financing for Property Assessed Clean Energy (PACE) repay the debt through property taxes and the interest is tax deductible. This investment will stay with the property, if the homeowner sells, and the annual payments are often much lower than their current electric bills. Furthermore, the rate is fixed and that means a lot at a time when utility bills keep getting bigger. Read more.